Question 1:
Short and long-term disability insurance is not a common benefit to many employees. What are some of the reasons this benefit is not provided to all employees? What are some of the differences between short and long-term disability?
Question 2:
Differentiate between an ERISA qualified and nonqualified retirement plan and explain the tax implications of each. What purposes would an employer have for implementing a nonqualified retirement plan separate from their qualified retirement plan?
Question 3:
Expressed purposes of virtually all benefit programs are to improve employee retention, satisfaction and motivation. Select any three discretionary benefit programs and explain how these three benefits improve employee retention, satisfaction and motivation.
Question 4:
Your company has a serious turnover problem among employees with fewer than five years seniority who complain that the benefits plan severely favor those with long seniority to their disadvantage. The CEO wants to use employee benefits to lessen this problem. What might you do, specifically, as the benefits administrator in the areas of pension vesting, life insurance, work schedule arrangements, educational assistance programs, and vacation and holiday allocation to reduce turnover among these less tenured employees at your company.
Question 5:
Describe mechanisms available to management to contain health costs.
Question 6:
Backloading can be defined as which of the following
-Paying for medical payments after the service is provided
-Requiring that vacation times be used or lost before the end of a calendar year
-Employees purchasing additional life insurance from independent insurance agents beyond that provided by their employer
-Unemployment insurance requirements excluding the current quarter of work performed by an employee for qualification purposes
-Retirement benefits accruing at a much higher rate during the employee's final years of service
Question 7:
According to Bob Crissan of Priority Health, what are the two primary objectives of the Patient Protection and Affordable Care Act?
-Creating a government health care option for individuals and streamlining insurance regulations that restricted competition between health insurance firms
-Eliminating waste and excess spending of health insurance organizations and reducing wait time to see health care practitioners
-Reducing health care costs and improving access to health care coverage
-Increasing preventative services such as immunizations and reducing the length of hospital stays
-Gradually phasing out the Medicaid and Medicare programs through the establishment of portable individual health accounts.
Question 8:
Which of the following is not typically a characteristic of term life insurance benefits?
-Employers may deduct their contributions to an employee provided term life insurance benefit as a business expense
-Employees generally make all the contributions toward term life insurance benefits
-Term life insurance is generally forfeited by the employee upon departure from the organization
-Additional life insurance is generally available for employee selection as part of an employer's cafeteria plan
-Term life insurance is often set at the employee's annual salary or at a multiple of two times that annual salary
Question 9:
Cost control methods, utilization reviews, audits, case management, managed care, co-payments, gatekeepers, and preferred provider systems generally refer to which type of employee benefit?
-Health Insurance
-Flexible Spending Accounts
-Social Security
-Pension Plans
-Tuition Reimbursement
Question 10:
Which of the following represents a true statement about a major issue associated with consumer driven health care (CDHC) plans offered by employers?
-To be effective it requires that employees become educated about their health care choices
-Health care costs are higher for organizations with CDHC plans than managed care plans
-Employee selection of health care providers is greatly restricted
-Unused dollar amounts left in CDHC plans can not be carried over to the next year
-CDHC plans can not be linked with other health insurance plans